“Rhode Island has nearly $50,000,000 worth of faith in the invisible finger of Adam Smith. Actually, the number is $50,381,453.25. That is the amount of money we gave out to Rhode Island companies in bonds, grants, loans, loan guarantees, matching funds, or tax credits".

CommentIt doesn’t point anywhere because he didn’t use the metaphor for such a purpose (anyway, if it is invisible, how would anyone know where it is ‘pointing’)?

If Rhode Island's government spends $50 million, ask the state accountants where it has gone. If it has no discernable effect on economic activity, ask the politicians. It has nothing to do with Adam Smith.

3 In KXnet.com (HERE) (8 December), we get this nonsense about Adam Smith:

From standard economics: if the supply of labour reduces for any reason, and effectual demand remains the same, then there will be upward pressure on wage rates. Adam Smith said as much in Books I and II of Wealth Of Nations without invoking anything remotely related to the metaphor of ‘an invisible hand’, only mentioned once, in Book IV and for an entirely different subject.